Historic Mixed-Use
For Sale
$495,000
1630 ROBERT C. BLAKES SR Drive, New Orleans, LA 70130
Commercial, New Orleans, LA
Property Size1,817 SF
Lot Size0.08 Acres
Price / SF$272.43
Days on Market320
Property Features for 1630 ROBERT C. BLAKES SR Drive
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
HU-MU
Parking features
Driveway
Lot features
Regular
Subdivision
Central City
Standard status
Active
APN
1630-ROBERTCBLAKESSRDR
Size
1,817 SF
Lot size
0.08 Acres
Taxes and HOA fees
Tax Description
SQ 209 ROBERT C BLAKES SR DR & EUTERPE ST LOT 13 30X123
Legal Description
SQ 209 ROBERT C BLAKES SR DR & EUTERPE ST LOT 13 30X123
Utilities
Water source
Public
Building Details
Year built
1905
Floors in Building
1
Listing Agency:
Keller Williams Realty New Orleans
(504) 862-0100
Listed By:
Chris Smith · License #000009641
(504) 231-2004
Added: Oct 27, 2025
Changed: Sep 6
Last Checked: Sep 11 at 10:06PM
MLS# 2527939
Copyright © 2026 New Orleans Metropolitan Association of REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Built in 1905, this historic side-hall cottage provides 1,817 square feet on a 30-foot by 123-foot corner lot. The interior includes 13-foot ceilings, Antique Heart Pine flooring, three private bedrooms, two updated full baths, and a central kitchen. A rear courtyard adds outdoor space and connects to a driveway with parking for two large vehicles. Public water serves the property.
The property is located five blocks from the Central Business District and Warehouse District, one block from the Saint Charles Avenue streetcar corridor, and near the Superdome, Convention Center, Uptown, Garden District, and Riverfront. I-10 provides regional access. HU-MU Historic Urban Neighborhood Mixed Use zoning is in place; buyers should verify all permitted uses with the City of New Orleans.
The property is located five blocks from the Central Business District and Warehouse District, one block from the Saint Charles Avenue streetcar corridor, and near the Superdome, Convention Center, Uptown, Garden District, and Riverfront. I-10 provides regional access. HU-MU Historic Urban Neighborhood Mixed Use zoning is in place; buyers should verify all permitted uses with the City of New Orleans.
Key Highlights
- HU‑MU Historic Urban Neighborhood Mixed Use zoning
- 1,817‑square‑foot cottage built in 1905
- 30‑foot by 123‑foot corner lot
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$26,783
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.41%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$535,660
$535.7K
Cap Rate 7%
$382,614
$382.6K
Cap Rate 9%
$297,589
$297.6K
Market Conditions
NOI Build-Up for 1,817 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$41.4K $22.80/SF
− Vacancy
−$5.7K −$3.15/SF
EGI
$35.7K $19.65/SF
− OpEx
−$8.9K −$4.91/SF
NOI
$26.8K $14.74/SF
Area
New Orleans, LA
Vacancy
13.80%
Lease Rate
$22.80 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$535,660
Cap Rate 7%
$382,614
Cap Rate 9%
$297,589
Alternative Uses
Best Use
Office B
$382.6K
$334.8K – $446.4K
NOI $26,783 @ 7.0% cap · market cap 5.41%
Second Best
Mixed Use
$350.4K
$306.6K – $408.8K
NOI $24,530 @ 7.0% cap · market cap 4.96%
Theoretical Best
Office A
$461.8K
$404.1K – $538.8K
NOI $32,327 @ 7.0% cap · market cap 6.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
2,899
Businesses Nearby
Explore this area
Business Placement
Demographics for 70130, LA
14,521
Population
10,927
Households
1.3
Avg Household Size
38
Median Age
64%
College-Educated
92%
High-School Grad
2.1 sq mi
ZIP Area
6,915
Density / Sq Mi
$82,758
Median Household Income
$52,492
Median Earnings
$1,410
Median Rent
$529,300
Median Home Value
Market
Vacancy Rate% for Office in New Orleans, LA
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - HU-MU zoning supports flexible residential, office, retail, and service-oriented use potential.
Where is this mixed-use property located?
The property is located at 1630 ROBERT C. BLAKES SR Drive New Orleans, LA.
What is the asking price?
The asking price for this property is $495,000.
What are key features of this property?
This property features: HU‑MU Historic Urban Neighborhood Mixed Use zoning; 1,817‑square‑foot cottage built in 1905; 30‑foot by 123‑foot corner lot
